Originally published on: October 23, 2024
During the Blockchain Life event in Dubai, Ledger CEO Pascal Gauthier shared his belief that self-custody remains the essence of cryptocurrencies, despite the rise of spot Bitcoin ETFs and exchanges. Gauthier emphasized the importance of eliminating the need for middlemen in peer-to-peer transactions, aligning with Bitcoin’s original vision as outlined in its white paper.
In addition to advocating for self-custody, Gauthier discussed the evolution of hardware wallets to adapt to the latest developments in the industry. Drawing a parallel to the continuous evolution of mobile phones, he emphasized the need for hardware wallets to enhance security measures, especially as cryptocurrencies become more integrated into daily life.
Ledger’s recent release of the Ledger Flex product showcases their commitment to innovative, secure technology, with Gauthier highlighting the unique secure touchscreens featured in these products. The need for robust security measures within the crypto ecosystem was further underscored by a recent incident where a crypto whale lost $55 million due to a vulnerable transaction in a DeFi protocol.
Gauthier emphasized the importance of clear signing to prevent such incidents, urging the community to prioritize security practices over blind signing. By partnering with various entities to promote education and awareness around secure signing practices, Ledger aims to build a more secure and trustworthy crypto ecosystem.
Stay informed about the latest developments in the crypto world by subscribing to the Finance Redefined newsletter. Receive weekly insights, analysis, and opportunities to help you navigate the dynamic landscape of decentralized finance with confidence. Subscribe now to unlock the full potential of crypto with self-custody.